FBN Holdings Company secretary,Seye Kosoko has denied that Mr Femi Otedola is the largest shareholder in FBN Holdings and First Bank Nigeria. Mr Tunde Hassan Odukale is the single highest shareholder in FBN Holdings, Kokoso confirmed. Odukare controls 5.36% shares, while Otedola comes second with 5.07%, Gistmaster gathered.
Just few days ago,some people have been celebrating the latest news that Otedola is set to take over the chairmanship of Nigeria’s oldest bank. However, things seem to be taking a new turn as Odukale of Lead Assurance declared that he would have none of that because the entities he represents in the bank has more shares than Otedola’s.
Kosoko attributed Leadway Pensure PFA’s entire 2.11% stake in FBN Holdings to Hassan-Odukale, although they are pension funds invested by Leadway on behalf of the public.
Also listed in Hassan-Odukale’s favour by Kosoko is 1.36% of “ZPC/Leadway Assurance Prem &
Inv Coll Acct” which is also insurance funds invested on behalf of the public.
FBN Holdings appears to be classifying both as Hassan-Odukale’s personal investments.